The ANZ – Roy Morgan consumer confidence survey is conducted weekly. Its running along close to its 3 year low. index has now spent twenty straight weeks below 80, the longest stretch below 80 since the index began being conducted on a weekly basis in October 2008 ANZ remarks: “The confidence level was among the
The financial markets kicked off the week on a sour note, grappling with disappointing Chinese GDP figures that undercut the overall sentiment. Despite a mixed bag of data for June, the weaker-than-expected economic expansion in China sent Australian Dollar – a bellwether for the commodities sector – on a slide, spearheading losses among commodity-linked currencies.
A food shopper searches for vegetables July 1, 2023 at the Hannaford supermarket in South Burlington, Vermont. Robert Nickelsberg | Getty Images Don’t break out the party hats just yet: Despite recent signs that inflation is cooling, the fight to bring down the meteoric price increases of the past three years is far from over.
Share: AUD/USD registers 0.20% loss, buffeted by weak Chinese GDP and Retail Sales data; USD rebounds after its worst week since November 2022. US equities remain unscathed despite mixed Chinese economic data; Forex traders eye Tuesday’s US Retail Sales and Industrial Production figures. Leadership change at the Reserve Bank of Australia (RBA) adds an element
Gold prices declined Rs 50 to Rs 59,950 per 10 gram in the national capital on Monday amid a fall in yellow metal prices internationally, according to HDFC Securities. The precious metal had closed at Rs 60,000 per 10 gram in the previous trade. However, silver prices remained flat at Rs 76,400 per kilogramme. Gold
The GBPUSD continues to probe to the downside after testing a key target on the daily chart near 1.31465 on Friday. The high price reached 1.3142 and backed off. The modest corrective move to the downside on Friday and again today has allowed for the 100-hour moving average to catch up to the price. That
The US dollar is catching some bids as New York trading ramps up to start the week, led by USD/JPY. This might be a reaction to the softer Chinese data earlier and to Janet Yellen talking about potential outbound investment controls related to China. It could also be a follow-on to the US dollar strength
With mild risk aversion permeating the markets, Gold and some other commodities are weakening notably today. China’s latest economic indicators paint a dreary picture – a sluggish recovery, dampened consumer demand, record youth unemployment, and escalating deflation risk. With a key meeting of the Chinese Communist Party’s Politburo around the corner, all eyes are on
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Stick em’ up! Bank robbery drills in the Metaverse The Bank of America is mixing a virtual reality metaverse and artificial intelligence to train new employees on everything from handling angry customers to bank robberies. Bloomberg reported July 13 that the bank’s 2,000 new hires undergo a week-long training regime that includes slipping on a
Share: EUR/USD has turned sideways as investors are awaiting a fresh trigger for further guidance. S&P500 futures have generated some losses, portraying caution among market participants as the result season has kicked off. The Euro has got extreme strength as the ECB is expected to conclude its rate-hiking spell beyond July. The EUR/USD pair has
Oil prices dipped for a second session on Monday after Libya resumed production over the weekend while China, the world’s largest crude importer, is expected to release economic data showing that its post-pandemic recovery is fizzling out. Brent crude futures fell 57 cents, or 0.7%, to $79.30 a barrel by 0055 GMT while U.S. West
> Technical Analysis > The US dollar fell sharply last week before consolidating on Friday.What next technically? Technical Analysis What levels are in play in the new trading week EURUSD: USDJPY: GBPUSD: USDCHF USDCAD: AUDUSD: ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING BELOW ADVERTISEMENT –
An item from oil news site Rigzone quotes an analyst view that the sweet spot for oil pricing is around US$70 per barrel: FGE’s Director of Short-Term Global Oil Service & Head of Upstream Oil: “the problem right now is that the world thinks it needs a higher price” “Financial institutions think international oil companies
CLabs, the organization responsible for developing the Celo blockchain, is seeking to return to the Ethereum ecosystem by transitioning from an independent EVM-compatible layer-1 blockchain to an Ethereum layer-2 solution. According to a proposal discussion on Celo’s governance forum, the transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain,
Share: EUR/USD may have run its course and bulls are laying the table. A break of key support structures could be on the cards for the week ahead. EUR/USD is stalling on the bid but underlying momentum is undeniable. At the time of writing the Single Currency is probing key resistance as the following illustrates,